According to the consumer advocacy group Demos, from 1992 to 2001, the youngest adults (18 to 24 years old) saw the sharpest rise in credit-card debt-104 percent-to an average of $2,985. The second-highest increase-55 percent-was among young adults (25 to 34 years old), who also had the second highest bankruptcy rate, just after those ages 35 to 44.
According to the educational lender Nellie Mae, incoming college freshmen will amass $1,500 in credit-card debt before the end of their first term.
Professional football has a big, big problem on its hands, and I'm not talking about the lockout that is jeopardizing the 2011 season.
Dave Duerson was once a world-class athlete, a perfect physical specimen whose pro football career included Super Bowl championships with the Chicago Bears and New York Giants. Friends and former teammates would tell you that he was also a bright guy — a graduate of Notre Dame with a degree in economics and, at least for awhile, a successful businessman.
Creative ideas regarding energy, education, jobs and so forth have trouble even getting a hearing.
The United States is not racked with the turmoil that is shaking the Arab world, or the tragic devastation that has hit Japan. We are not in a state of emergency. We’re in a moment when it is possible to look thoughtfully at the American landscape and take rational steps to ensure a better, more sustainable future.
Rob Brunhild trusted his broker when he was sold principal-protected notes underwritten by Lehman Brothers, noting that the broker implied that the notes were like Treasuries. His expectations for a solid return were dashed when Lehman went under, wiping out his investment. He said his family lost $275,000 on the notes.
“I had to tell my mother,” Brunhild said. “Mom lived off of this money.”
To focus an investigative spotlight on an entire religious or ethnic community is a violation of everything America is supposed to stand for.
It has often been the case in America that specific religions, races and ethnic groups have been singled out for discrimination, demonization, incarceration and worse. But there have always been people willing to stand up boldly and courageously against such injustice. Their efforts are needed again now.
In November, after the elections, it wasn't so clear how the tenor of our public debate would be shifted. Four months later, at least for the short term, the answer is staring us in the face. An agenda is being presented, in the budget amendments in the House of Representatives, in the conservative echo chambers and media outlets, in Madison, Wisconsin and in states around the country. The contours of this agenda are very clear, and they threaten to steal our country's soul from the inside out.
It's time to put a stop to the unfair and arbitrary use of credit reports to make hiring and firing decisions.
Imagine you’re one of the 6.8 million Americans who have been unemployed for more than six months. (Imagine, that is, if you don’t already have the misfortune of being one of them). You receive a job offer that you quickly accept. But it comes with an increasingly common catch: your potential employer wants to check your credit first.
This checklist was created in partnership with the Progressive Change Campaign Committee (PCCC) and the American Federation of Teachers (AFT)
Debt-free college means all students in America should be able graduate without debt. This big idea would expand economic opportunity, expand America's economy, and improve quality of life for millions of people.
Debt-free college is a result that can be achieved through multiple means.
Is it a problem when the Supreme Court is out of step with public opinion? While in many cases the answer is no, when it comes to the question of money and politics and the financing of campaigns and elections, its counter-majoritarianism is a threat to democracy.
As Hillary Clinton takes the podium at the New School today for a major economic policy address said to focus on issues important to families, she has her work cut out for her.
The stories of our clients—Sherry Denise Holverson, Isabel Najera, and Alexandria Lane—are not outliers, but rather represent a problem that has been occurring across the state of North Carolina.
Tomorrow, Hillary Clinton will release the names of her top bundlers, wealthy people who have reached the individual contribution limit and therefore volunteer to collect checks from their rich friends to give to candidates in a “bundle.” Many bundlers bring in millions—in 2008, bundlers who brought in more than $100,000 were called “HillRaisers.”
Entire movements are based around these economic realities: the minimum wage is too low to live on. Eligibility for overtime pay must be broadened so that workers are fairly compensated for all of the time they work. Basic workplace standards need to be improved.
Five years ago on July 16, 2010, Congress enacted the Dodd-Frank Act. It promised unprecedented regulation of the financial sector so that the devastation of the 2008 financial crisis that was visited mostly on middle- and low-income Americans in the form of the Great Recession would not be repeated. Though the law was far from perfect, Dodd-Frank includes many important reforms, from bulwarks against the systemic risks of casino capitalism to protection against predatory consumer lending.
Five years ago today, I attended the bill signing for the Dodd-Frank Wall Street Reform and Consumer Protection Act, which promised to restore sensible safeguards and standards for the financial sector so that the devastation of the financial crisis felt mostly by low- and middle-income Americans would not be repeated.
Given the David and Goliath odds that reformers faced in challenging the sector with the most influence in Washington, we had much to celebrate—and still do.
The New York fast food wage board today recommended a wage increase in a series of steps to $15 an hour by 2018 in New York City and by 2021 in the rest of the state.
